BPH parent company Advent holds 85% of PEP11, of that BPH holds 36% of Advent (Rights issue 23/06/20 - "The proceeds of the Placement and Rights Issue will be used by BPH primarily to invest in Advent Energy Limited (Advent) in order to increase BPH’s shareholding from 23% to 36%" (= 30.6% to BPH overall)
XST holding may come down to 15-16% of Borba if it needs to fund its portion of the upcoming drill, unless it goes to market to raise.
PEP 11, page-289
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